News

Source: Socketsite
February 9, 2018
According to a draft Fiscal Responsibility report for the massive Balboa Reservoir project, the projected $560 million development, a total which doesn’t include the price of the land or community benefits which have yet to be negotiated, could break ground “as early as 2021,” which is right in line with our original projection.
As such, the first wave of the development’s proposed 1,100-ish residential units could be ready for occupancy as early as 2023 with a second wave following two years later, “depending on market conditions.”
And of the 1,100-ish units, fifty (50) percent are slated to be offered at below market rates (i.e., “affordable”) to households with income limits ranging from 55 to 120 percent of the area median as broken down below:
The current Area Median Income (AMI) in San Francisco is around $81,000 for an individual and $92,000 for a household of two.
And once again, the current plans include off-...

Source: San Francisco Chronicle
By J.K. Dineen | February 3, 2018
The Moscone Convention Center parking garage would be redeveloped into a 320-foot tower with at least 650 hotel rooms and at least 100 affordable housing units under a plan being put forward by the city.
Directors of the San Francisco Municipal Transportation Agency, which owns the property, will vote Tuesday on issuing a request for proposals to build a multiuse complex at 255 Third St., currently a 732-space garage. The site, just under an acre, is bordered by Clementina Street to the south and Kaplan Lane to the east.
The garage, which is 53 percent occupied during peak parking hours, generates $2.3 million annually for the city. Under the plan, the transportation authority will retain ownership and negotiate a 65-year ground lease with the selected development team.
The project is part of a broader city push to create affordable housing on public land. Over the past few years, the San Francisco Unified School...

Source: San Francisco Chronicle
By J.K. Dineen | February 3, 2018
The Moscone Convention Center parking garage would be redeveloped into a 320-foot tower with at least 650 hotel rooms and at least 100 affordable housing units under a plan being put forward by the city.
Directors of the San Francisco Municipal Transportation Agency, which owns the property, will vote Tuesday on issuing a request for proposals to build a multiuse complex at 255 Third St., currently a 732-space garage. The site, just under an acre, is bordered by Clementina Street to the south and Kaplan Lane to the east.
The garage, which is 53 percent occupied during peak parking hours, generates $2.3 million annually for the city. Under the plan, the transportation authority will retain ownership and negotiate a 65-year ground lease with the selected development team.
The project is part of a broader city push to create affordable housing on public land. Over the past few years, the San Francisco Unified School...

by Marie Kegel | January 22, 2018
The New Year is an opportunity reflect on the past and set goals for the future. For many of us, our New Year’s resolutions will include financial goals like paying off credit card debt, building emergency savings, or improving our credit scores. But knowing where to begin and how to make the lasting behavior changes needed to achieve those goals can be daunting! Taking advantage of FREE financial coaching could be your key to sticking with your resolutions. A financial coach can help you realize your goals by working with you to:
• Set SMART goals. New Year’s resolutions are all about goal-setting, but not all goals are created equal. SMART goals are specific, measurable, achievable, realistic, and time-bound. The SMART goal model brings structure to your resolution by creating a clear path to success with explicit milestones and by taking account of the goal’s overall attainability.
• Track progress. Creating a feedback loop to evaluate how you are...

by Marie Kegel | January 19, 2018
Like many homeowners, you probably do not pay the SF Treasurer’s Office directly for your annual property tax bills. Instead, your property taxes are paid by your lender from your impound account. However, many first time homebuyers get caught off guard when they receive a Supplemental or Escape tax bill that is not part of your monthly payment. When you purchased your home, the transfer of ownership triggered a reassessment of the property value by the Assessor-Recorder’s Office. This process establishes a new base value for calculating your property taxes, and can take several years to complete. So, you can make property tax payments based on outdated tax rolls for months and then receive a hefty tax bill. The Supplemental tax bill captures the difference between what you were billed and what you should have been billed. Learn more about tax assessments at sfassessor.org.
It’s your responsibility to pay Supplemental tax bills when they come due....